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Ford analyzes production costs for a model: Standard labor hours 20,000, actual labor hours 18,000, standard labor rate $30/hour, actual labor rate $32/hour. Requirements: Calculate

Ford analyzes production costs for a model: Standard labor hours 20,000, actual labor hours 18,000, standard labor rate $30/hour, actual labor rate $32/hour.
- Requirements:
  - Calculate the labor rate and efficiency variances.
  - Prepare a variance analysis report for labor costs.
  - Discuss the factors contributing to unfavorable variances.
  - Recommend strategies to improve labor cost efficiency.

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